191K-SF Data Center in AZ Sells to CBRE Global Investors

CBRE Global Investors acquired a 191,061-square-foot data center in Chandler, AZ from Lincoln Property Co.’s Lincoln Rackhouse. The buyer paid $72.8 million for the center, which is 100% leased to cloud and colocation provider Internap.

Kristina Metzger and James McCarthy with CBRE represented the seller in the transaction. Lincoln Rackhouse and Principal Real Estate Investors had acquired the center at 2500 W. Frye Rd. in 2018 as part of a three-property portfolio.

“There are more diverse buyers of data center assets today than ever before,” Metzger said. “The Phoenix Flagship data center was attractive to foreign capital, institutional investors, and infrastructure funds, in addition to the historical, targeted data center investors.”

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